Background
Exploration Licence 08/3737 Gorge is located approximately 110km west of the town of Paraburdoo in Western Australia. Gorge covers an area of 81 square kilometres of Proterozoic age metasediments of the Capricorn Orogen and is prospective for several styles of mineralisation, however the Company’s primary focus will be large scale gold deposits.
Historical records show sporadic exploration was carried out across the Gorge licence in the mid to late 1980s and late 2000s. This work identified several areas with rock chip results peaking at 134 g/t gold, with mineralisation observed over approximately 5 km of strike
In the mid to late 1980s broad spaced stream sediment sampling, soil sampling, rock chip sampling, and Rotary Air Blast (RAB) drilling was completed within the licence area. Drainage sampling returned gold results including 192ppb and 75ppb and was successful in outlining several areas hosting gold mineralisation at surface. Rock chip sampling at these areas returned gold up to 62.2g/t from quartz veins and 35.7g/t from calcareous sediments. Soils returned up to 233.3g/t gold and shallow RAB drilling of seven holes returned highest result of 36g/t gold.
Follow up work in the late 2000s included ground reconnaissance and sporadic rock chip sampling. Rock chip results peaked at 134g/t gold and mineralisation was identified over more than 5 kilometres of strike.
Several historical hard rock gold workings with associated alluvial and eluvial areas were 3 Acquisition of New Highly Prospective Gold Licence in Western Australia located within this zone. A number of alluvial areas were also identified that has no related historical hard rock workings.
No further work has been carried out within the Gorge licence area since the late 2000s and the spatial distribution of historic samples shows gold mineralisation is present over a strike length of approximately 5km within the licence area. Other gold occurrences in the region include Mt Olympus and Paulsens.
Key Highlights
- Acquisition of 100% interest in the Gorge Project (E08/3737), Western Australia.
- Historic exploration at Gorge identified gold mineralisation with rock chip samples up to 134g/t Au and soil samples up to 233g/t Au.
- Licence located 110km west of Paraburdoo, covering 81 km² of Proterozoic metasediments in the Capricorn Orogen, with gold mineralisation identified over approximately 5km of strike.
- E08/3737 is granted and has executed Native Title Agreement in place.
- Consideration: A$100,000 cash and A$400,000 equivalent in GEO shares, issued at £0.004 per share, equating to 48,130,000 new ordinary shares.
- The £0.004 issue price represents a 25% premium to GEO’s £0.0032 closing price on 16 October 2025. All consideration shares subject to a 12 month holding lock.
- Surface Rights Deed: vendor retains near-surface gold rights to 2 metres (extendable to 4 metres with consent); capped at 10,000 tonnes excavation; GEO holds exclusive rights at depth and an option to purchase surface rights outright.
- Work programme on Gorge Project is scheduled to commence during current quarter.
Current Work Programme
Gorge Project represents an early-stage exploration opportunity for large scale gold deposits based on robust historical results recorded over a significant strike length.
The application of modern exploration techniques will allow rapid identification of drill targets in an area that has been subject to limited historical work. Initial activities by the Company will include digital compilation of historical exploration results, detailed airborne Lidar, detailed aeromagnetics and radiometrics, and surface geochemical sampling. Several components of this work programme are scheduled to commence during current quarter and results will be announced as they come to hand.